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How do I get out of a timeshare?

New Milford, CT |

Bought a timeshare but am now having financial difficulties. Company won't take it back and am inable to sell or rent

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Attorney answers 1


As you are probably aware by now, timeshares are a notoriously poor investment, and are difficult to sell or rent precisely because they are such a bad deal. For that reason, their contracts are drafted in a way that makes them virtually impossible to escape from once entered into -- yours no doubt involved multiple representations on your part that you knew what you what you were getting into and had consulted counsel, etc. etc.

You may be able to file for bankruptcy to get out this timeshare contract, but that's a drastic solution which may not be in your longterm best interests, if you can weather this finacial storm.

Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.